April 23, 2025: Trident Growth Partners, a newly launched growth-stage investment firm, has successfully closed ₹1,000 crore in the first round of fundraising for its maiden fund. The investment firm is targeting a total fund size of ₹2,000 crore, including a greenshoe option, and expects to reach this goal within the year.
The fund’s investment strategy centers around leading or co-leading Series B and later-stage rounds in fast-scaling, category-leading companies across multiple sectors. While sector-agnostic, Trident will primarily focus on high-potential opportunities in consumer goods, financial services, enterprise technology, manufacturing, and healthcare.
According to the firm, the core of its thesis lies in backing companies with strong fundamentals, unit economics, and a firm emphasis on governance and sustainability.
“Our focus is on backing resilient, growth-stage companies with strong unit economics that prioritise sustainability and governance,” said Atul Gupta, Managing Partner at Trident Growth Partners.
Trident has already completed its first investment, co-leading the Series B round in Spotdraft, a fast-growing SaaS startup specializing in Contract Lifecycle Management (CLM). A second investment is in its final stages, indicating an active deployment pipeline just months after the fund’s inception.
Ranjan Pai, SIDBI Join Forces to Back Trident Growth Partners ₹2,000 Cr Vision
Importantly, Trident aims to provide more than just capital. The firm is building an operating partner ecosystem and plans to engage closely with portfolio founders, offering hands-on mentorship and functional expertise. The goal is to help companies transition smoothly from growth to scale—ensuring they are not only well-funded but also well-prepared for long-term success.
The fund’s first close was backed by Claypond Capital, the family office of Ranjan Pai, Chairman of the Manipal Group, alongside institutional contributors like the Fund of Funds for Startups (managed by SIDBI) and the Self Reliant India Fund (SRI).
The Trident Growth Partners maiden fund also received support from over 30 founders of high-growth startups, general partners at top-tier venture capital firms, and other family offices—indicating broad-based confidence across the entrepreneurial and investing communities.
With an experienced team, a robust network of founders and operators, and a clear investment philosophy, Trident Growth Partners is emerging as a powerful new force in India’s PE ecosystem, focused on catalyzing the next generation of growth-stage champions.
The firm is co-founded by three seasoned investment professionals—Atul Gupta, Rajesh Ramaiah, and Pravan Malhotra—who bring decades of experience from respected platforms such as Premji Invest and the International Finance Corporation (IFC). Collectively, the trio has led or participated in over 40 investments, including 14 unicorns and 8 successful exits through IPOs or strategic acquisitions.
The founding team’s track record speaks volumes. Prior to launching Trident, they were involved in some of India’s most prominent startup success stories, including Policybazaar, KreditBee, Lenskart, Flipkart, Myntra, FirstCry, BigBasket, Purplle, Amagi, Pixis, Lambdatest, Moglix, Gold Plus Glass, Best Value Chemicals, MedPlus, and NephroPlus. These ventures have not only created significant shareholder value but also redefined their respective industries.
Trident Growth Partners new fund has drawn substantial interest from a powerful mix of institutional investors, family offices, and leading startup founders, underlining the strong confidence in the firm’s strategic vision and founding team.
